Teekay Offshore Partners is closing in on a Friday pricing for its mammoth $500m high-yield bond issue in the US.
Price talk on the fundraiser has been in the range of 8% to 8.5% for the unsecured 5-year notes, according to sources familiar with the deal.
Most of the proceeds are earmarked to redeeming some $440m in bonds due in 2019, including a 6% US issuance and about $125m in Norwegian kroner-denominated notes.
